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Beamish to change hands in S&N deal

Fri, Jan 25, 2008, 00:00

Carlsberg and Heineken have agreed a joint cash bid of 800 pence sterling a share for Scottish and Newcastle (S&N).

Denmark's Carlsberg and Amsterdam-based Heineken said they had agreed a deal recommended by S&N which valued Britain's biggest brewer and the world's sixth-largest beer maker at £7.8 billion sterling (€10.4 billion).

As a result of the deal, Cork's Beamish & Crawford - which is owned by Scottish & Newcastle - will change hands. Heineken Ireland is based in Cork where it produces Murphy's stout, Heineken and Amstel.

Alf Smiddy, chairman and managing director, Beamish & Crawford said as the deal will take some months to complete the impact on the business was unclear.